Dubai Electricity and Water Authority PJSC (DEWA), the exclusive electricity and water services provider for the emirate of Dubai, has announced its first-quarter financial results for 2026, marking a historic achievement in the company's performance. The company reported a record quarterly revenue of AED 6.45 billion, with EBITDA reaching AED 2.88 billion, operating profit at AED 1.29 billion, and a net profit of AED 0.94 billion.

These figures represent significant year-on-year growth, with revenue increasing by 8.18%, EBITDA by 18.44%, operating profit by 53.58%, and net profit by an impressive 89.87% compared to Q1 2025. This robust financial performance is complemented by record-breaking operational metrics, including the highest first-quarter power generation of 11.09 TWh and clean power generation of 2.06 TWh. Additionally, DEWA achieved its highest first-quarter desalinated water production at 37.57 BIG and saw a notable increase in customer accounts, reaching 1.347 million.

The remarkable achievements in Q1 2026 are a testament to DEWA's commitment to innovation and sustainability, inspired by the vision of Dubai's leadership. Under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum and other key leaders, DEWA is progressing towards its goal of net-zero emissions by 2050. The company's strategic initiatives and investments in clean energy and infrastructure are driving its growth and aligning with Dubai's rapid development.

Given DEWA's strong financial performance, its strategic focus on sustainability, and the growing demand for electricity and water in Dubai, the outlook for the company remains optimistic. Investors may consider taking a closer look at DEWA's stock as a potential growth opportunity. The company's commitment to sustainability not only enhances its operational efficiency but also positions it as a leader in the transition to a greener future.

In conclusion, DEWA's record-breaking Q1 2026 results underscore its resilience and strategic foresight. Investors looking for a stable and growth-oriented stock in the utility sector may find DEWA an attractive option. Therefore, based on the current performance and future prospects, the recommendation is to buy.